Money

By Elizabeth Wagmeister, CNN (CNN) — In 2016, a venture capitalist and Yale law graduate named JD Vance published a memoir, “Hillbilly Elegy.” The instant bestseller turned Vance into a media star and was later adapted into an Oscar-nominated film directed by Ron Howard. Eight years after its publication, Vance’s book has found its way back onto the bestseller lists,

By Krystal Hur, CNN New York (CNN) — Stocks surged Tuesday as Wall Street raised its bets that sky-high borrowing rates could come down in the fall. The Dow surged by 743 points, or 1.9%, closing at a fresh all-time high and notching its best daily percentage gain since June 2023. The S&P 500 gained 0.6%,

By Chris Isidore, CNN New York (CNN) — At first glance, Elon Musk and Donald Trump wouldn’t seem to be natural allies. One has made cutting greenhouse emissions a major business selling point. The other questions the need to cut emissions at all, denouncing most forms of clean energy as at best unnecessary and at

CNN By Donie O’Sullivan, Brian Fung and Marshall Cohen, CNN (CNN) — Saturday’s shooting at a Donald Trump rally was the first assassination attempt of a US presidential candidate in the age of social media – and the former president had barely been hit before the internet was abuzz with all sorts of unsubstantiated explanations for

By Oliver Darcy, CNN (CNN) — The hosts of MSNBC’s “Morning Joe” rebuked the network’s leadership on Tuesday, expressing dismay over the decision to pull the flagship morning show program from the air Monday and telling viewers that they were not provided clear answers about the matter. Joe Scarborough, speaking alongside co-hosts Mika Brzezinski and

By Hanna Ziady, CNN London (CNN) — The International Monetary Fund has warned that stubborn inflation could keep interest rates higher for longer than expected, increasing fiscal and financial risks around the world. Persistently high prices for services — which include haircuts, hotels and restaurants — as well as escalating trade tensions are propping up

By Bryan Mena, CNN Washington (CNN) — It’s been a disappointing few months for American retailers, but the consumer isn’t tapping out quite yet. US retail spending has been mostly flat since the beginning of the year, holding steady in June, the Commerce Department reported Tuesday. Consumer spending is American’s main economic engine, powering two-thirds

By Anna Chernova, Lauren Kent and Rob Picheta, CNN (CNN) — Russian-American journalist Masha Gessen was sentenced to eight years in prison by a Moscow court Monday for criticizing the Russian military, becoming the latest target of a crackdown on critics of the Kremlin. Gessen was convicted in absentia on charges of disseminating “false information”

By Tami Luhby and Alicia Wallace, CNN (CNN) — In 2018, Jonathan and Trista Schmier felt the economy was so strong that they could take a big risk. They quit their property management jobs and opened a restaurant, Rustic Burger, in Fayetteville, North Carolina. Trista Schmier, who had long dreamed of owning a restaurant, designed

By Samantha Delouya, CNN (CNN) — President Joe Biden revealed a series of proposals aimed at lowering housing costs on Tuesday as inflation and elevated home prices are shaping up to be decisive issues for voters this year. The plan, which is subject to congressional approval, has two parts. The first proposal calls for withdrawing

By Ramishah Maruf, CNN New York (CNN) — Thomas Matthew Crooks, the 20-year-old who opened fire on former President Donald Trump during a campaign rally Saturday in Pennsylvania, was pictured twice wearing a t-shirt that said “Demolition Ranch” on it. A law enforcement official told CNN that one of the times was when Crooks was at an ammo

By Ramishah Maruf, CNN New York (CNN) — An activist hacking group claimed it leaked thousands of Disney’s internal messaging channels, which included information about unreleased projects, raw images computer codes and some logins. Nullbulge, the “hacktivist group,” claimed responsibility for the breach and said they leaked a gigantic, roughly 1.2 terabytes of information from Disney’s

By Sean Lyngaas, CNN (CNN) — Russian cybersecurity company Kaspersky Lab will “gradually wind down” its US operations and lay off its US-based employees after the Department of Commerce announced a ban on the firm selling its products in the United States, Kaspersky said Monday. The shutdown of Kaspersky Lab’s US operations will start on

By Donie O’Sullivan, Brian Fung and Marshall Cohen, CNN (CNN) — Saturday’s shooting at a Donald Trump rally was the first assassination attempt of a US presidential candidate in the age of social media – and the former president had barely been hit before the internet was abuzz with all sorts of unsubstantiated explanations for what

CNN By Krystal Hur, CNN New York (CNN) — US markets rose Monday as investors processed the assassination attempt on former President Donald Trump over the weekend. The Dow rose climbed 211 points, or 0.5%, closing at a fresh record high. That comes after the blue-chip index hit a fresh all-time high on Friday and

By Nathaniel Meyersohn, CNN New York (CNN) — Macy’s management ended talks with private investors attempting to take over the company and will pursue its own turnaround strategy to remake the chain. Macy’s board of directors voted unanimously to end discussions with Arkhouse Management and Brigade Capital Management over the investors’ offers to acquire the

By Matt Egan and Jordan Valinsky, CNN New York (CNN) — Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN. A takeover of Wiz, which makes cybersecurity software for cloud computing, would represent a major bet by Google

By Jordan Valinsky, CNN New York (CNN) — Investment giant BlackRock is pulling an ad that included Thomas Crooks, the gunman who shot at Donald Trump, injuring the former president and killing an attendee at a rally near Pittsburgh on Saturday. “In 2022, we ran an ad featuring a teacher from Bethel Park High School, in which

By Matt Egan, CNN New York (CNN) — The value of former President Donald Trump’s social media company spiked Monday after he was injured in an attempted assassination over the weekend. Trump Media & Technology Group’s share price surged more than 30% Monday morning, putting it on track for what would be the biggest single-day

By Jordan Valinsky, CNN New York (CNN) — British luxury brand Burberry is replacing its chief executive following another disappointing quarter in which sales plunged more than 20%. Jonathan Akeroyd is leaving Burberry with “immediate effect,” the company said in its earnings release Monday, and replacing him with Joshua Schulman, a luxury wear veteran that has